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Month: August 2020

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Q2 Lender Earnings: Mortgage Deferral Situation Easing

August 25, 2020 reddeerabmortgage 0

Despite Canada Mortgage and Housing Corporation CEO Evan Siddall warning of a mortgage “deferral cliff,” and a sharp rise in mortgage defaults this fall, data […]

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Don’t Let These Unexpected Closing Costs Catch You Off Guard

August 21, 2020 reddeerabmortgage 0

First-time homebuyers are often on a tight budget, where every dollar is carefully accounted for. Yet, many report confusion when told how much money to […]

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Opinion: The Path Forward under Minister of Finance Chrystia Freeland

August 18, 2020 reddeerabmortgage 0

The last 24 hours has been significant for the Trudeau Government. The SNC Lavalin and WE Charity issues are primarily political liabilities, but the departure […]

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Home Prices Set New Record High, Sales Surpass Pre-COVID Levels

August 18, 2020 reddeerabmortgage 0

Continuing the upward trend that started in June, home sales bounced back to pre-COVID levels in July, soaring 30.5% year-over-year. Home prices, too, set a […]

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Opinion: CMHC and Risk – Perspective vs. Spin

August 14, 2020 reddeerabmortgage 0

It’s so hard to have a calm, intelligent debate about mortgage policy in Canada. And there’s a reason for it. Despite over a decade of […]

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CMHC’s Siddall Calls on Lenders & Default Insurers to Tighten Lending

August 13, 2020 reddeerabmortgage 0

Evan Siddall, CEO of the Canada Mortgage and Housing Corporation, is calling on lenders and mortgage default insurers to tighten underwriting and qualification standards for […]

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Stress Test Rate to Fall to 4.79%

August 11, 2020 reddeerabmortgage 0

The stress test rate is about to fall for the second time in three months following cuts by Canada’s Big Six banks to their 5-year […]

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COVID-19 Stokes Canadian Homebuying Intentions: MPC Report

August 10, 2020 reddeerabmortgage 0

The global pandemic may have brought the Canadian real estate sector to a near standstill this spring, but over the longer term it appears to […]

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Latest in Mortgage News: Toronto Home Prices Set July Record

August 7, 2020 reddeerabmortgage 0

The rebound for Toronto home prices continued in July, with the average selling price reaching a record $943,710. That’s a 16.9% increase compared to a […]

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Fixed or Variable? Floating-Rate Mortgages Losing Their Lustre

August 6, 2020 reddeerabmortgage 0

It can be one of the most difficult choices for mortgage borrowers—fixed rate or variable? Thanks to historically low spreads between the two, that choice […]

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